30. Amendment of section 133 of the principal enactment

Official English translation. Where it differs from the Sinhala or Tamil text, the Act itself says which text prevails.

Section 133 of the principal enactment as last amended by the Act, No. 8 of 2014 is hereby further amended in subsection (4) of that section as follows:-

(1)

in paragraph (a) of that subsection-

(a)

in sub-paragraph (i) of that paragraph, by the substitution for the words “of such interest; and”, of the words “of such interest;”;

(b)

in sub-paragraph (ii) of that paragraph by the substitution for the words “any partnership”, of the words and figures “for any year of assessment ending prior to April 1, 2015, any partnership”;

(c)

by the addition at the end of sub-paragraph (ii) of that paragraph, of the following new sub-paragraphs:-

“(iii)

for any year of assessment commencing on or after April 1, 2015

any partnership, charitable institution or any individual the deduction shall be made at the rate of two and a half per centum of such interest; and

(iv)

for any year of assessment commencing on or after April 1, 2015, body of persons the deduction shall be made at the rate of eight per centum of such interest.”;

(2)

by the substitution in paragraph (b) of that subsection, for the words “any year of assessment, that its assessable income for that year of assessment”, of the words and figures “any year of assessment ending prior to April 1, 2015, that its assessable income”;

(3)

by the substitution in paragraph (c) of that subsection, for the words “any individual then, in relation to any year of assessment where”, of the words and figures “any individual then, in relation to any year of assessment ending prior to April 1,

2015 where”; and

(4)

by the substitution in paragraph (d) of that subsection, for the words “deduction shall be made, at the rate of eight per centum of such interest:”, of the words and figures “deduction shall be made for any year of assessment ending prior to April 1, 2015

at the rate of eight per centum of such interest:”.

Read on from s 31